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In a bid to support meritorious and deserving Indian students to pursue their higher education without having to worry about funds, the government today announced the <keyword id="23831216" type="General" weightage="100" keywordseo="PM-Vidyalaxmi-scheme" source="keywords">PM-Vidyalaxmi scheme</keyword>. Here's all you need to know about it: The scheme will cover students who secure admission to one of the top 860 higher educational institutions in the country. In effect, this is set to benefit over 22 lakh students annually. You can apply for this loan via a soon-to-be launched consolidated PM-Vidyalaxmi portal. The loan application will be entirely digital and will not require collateral or assets to be pledged in place of a loan or even a guarantor. For loans up to Rs 7.5 lakh, the government will provide a 75% credit guarantee. If your family's annual income is up to Rs 8 lakh, you are eligible for receiving loans up to Rs 10 lakh at an interest rate of up to 3% lower rates. This support will be offered to around 1 lakh students every year, and those who opt for technical or professional courses from government-run institutions will be given preference for the same. The government has already set aside Rs 3,600 crore for the same, to be utilized between 2024 and 2031, benefiting 7 lakh students in this period. All eligible students whose family's annual income falls below the Rs 4.5 lakh threshold will receive a full subsidy on interest payable. As for which higher education institutions (HEIs) will qualify, it will depend on recent NIRF (National Institutional Ranking Framework) rankings. This will include: <ul><li>All centrally governed institutions</li><li>Public and private institutions that have made it to NIRF's top 100 rankings in the overall, category, and domain-specific categories</li><li>All state government HEIs that are ranked between 101 and 200 in <keyword id="22759868" type="General" weightage="20" keywordseo="NIRF-rankings" source="keywords">NIRF rankings</keyword> will also be eligible.</li></ul> <h2>Rising cost of education</h2> Data from NSSO (National Sample Survey Office) highlights that the average expenditure on education in India has doubled in the last decade. Per the All India Survey on Higher Education 2020-21, the tuition fees for engineering courses in most private institutions have already risen by 50% over the past 10 years. Education inflation currently stands high, at about 11–12%. The demand for educational loans is also inching up steadily. Per RBI data, as of September 20, 2024, the total quantum of outstanding education loans stood at Rs 62,389 crore, up 2.8% from Rs 60,715 crore in September 2023. India's largest lender, the State Bank of India, leads the education loan bandwagon, with disbursals worth Rs 10,860 crore in FY24.

Lack of funds stopping you from pursuing higher education? The government can come to rescue

<keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> Nirmala <keyword id="19916494" type="General" weightage="20" keywordseo="Sitharaman" source="keywords">Sitharaman</keyword> on Tuesday said the <keyword id="22514373" type="General" weightage="20" keywordseo="loan-limit" source="keywords">loan limit</keyword> under the <keyword id="21070043" type="General" weightage="20" keywordseo="MUDRA-scheme" source="keywords">MUDRA scheme</keyword> will be doubled to Rs 20 lakh. Presenting the Budget for 2024-25 in the Lok Sabha, she said the government will launch the scheme to provide <keyword id="21402064" type="General" weightage="20" keywordseo="internship-opportunities" source="keywords">internship opportunities</keyword> to 1 crore youth in top 500 companies over the next five years. Further, the Centre will also promote investment-ready industrial parks in 100 cities, the finance minister added. The government will facilitate dormitory-type rental housing for industrial workers in public-private partnership (PPP) mode. Sitharaman also announced that the government will launch auction of the first offshore mining blocks and will set up Critical Mineral Mission to acquire assets overseas. She also said Rs 20,000 crore will be allocated for highways in Bihar. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank">Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman to present her record seventh consecutive Budget today</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a><a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank">Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today</a>

Loan limit under MUDRA scheme to be doubled to ₹20 lakh: Sitharaman

The government will provide financial support for <keyword id="19936324" type="General" weightage="20" keywordseo="loans" source="keywords">loans</keyword> up to Rs 10 lakh for <keyword id="19896809" type="General" weightage="20" keywordseo="higher-education" source="keywords">higher education</keyword> in domestic institutions, <keyword id="20385790" type="General" weightage="20" keywordseo="Union-Finance-Minister" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister" meta.hostid="261" meta.entityid="Union Finance Minister">Union Finance Minister</keyword> <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords" meta.keywordsubtype="org" meta.entityname="Nirmala Sitharaman" meta.hostid="261" meta.entityid="Nirmala Sitharaman">Nirmala Sitharaman</keyword> announced on Tuesday. Presenting the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> for 2024-25, she said e-vouchers for this purpose will be given directly to one lakh students every year with interest subvention of 3 per cent of the loan amount. Upgrading 1,000 Industrial Training Institutes (ITIs) in hub and spoke model, aligning course content with skill needs of industry and revision of model skill loan scheme, are among the measures announced by the Finance Minister for Skill Development sector. "For helping our youth who have not been eligible for any benefit under govt schemes and policies government will provide financial support for loans up to Rs 10 lakh for higher education in domestic institutions. E-vouchers for this purpose will be given directly to one lakh students every year with interest subvention of 3 per cent of the loan amount," Sitharaman said. The Union Budget for 2024-25 will provide Rs 1.48 lakh crore for education, employment and skilling in the country. She said, "1,000 ITIs will be upgraded in hub and spoke model, course content and design will be aligned to the skill needs of industry and new courses will be introduced for emerging needs. I am happy to announce a new centrally sponsored scheme for skill development in which 20 lakh youth will be skilled over period of 5 years". "The model skill loan scheme will be revised to facilitate loans up to RS 7.5 lakh with a guarantee from government promoted fund..this measure is expected to help 25,000 students every year," she added. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank">Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman to present her record seventh consecutive Budget today</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a><a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank">Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today</a>

Budget 2024-25: Govt announces loans up to ₹10 lakh for higher education in domestic institutions

<ul class="summary-list"><li>Yadira Raygoza earns $53 an hour and has juggled family, work, and studying for the last five years.</li><li>As a 26-year-old construction worker, Raygoza said she's had to adapt her communication style to men.</li></ul>This as-told-to essay is based on a conversation with Yadira Raygoza, a 26-year-old construction worker. This essay has been edited for length and clarity. Business Insider verified her identity, employment, and hourly pay rate.I applied to an <a target="_blank" class="" href="https://www.businessinsider.com/electrician-switched-medicine-surgeon-degree-college-pre-med-gen-z-2024-5">electrical construction</a> apprenticeship with IBEW, the International Brotherhood of Electrical Workers, when I was 19.I never expected to go into electrical construction, but I started a family early and I wanted to pursue my own personal goals while having a flexible schedule.My brother joined the program and after hearing about how he was able to start a career without having to go through <a target="_blank" class="" href="https://www.businessinsider.com/college-degree-student-loans-value-worth-it-survey-wsj-2023-3">four years of college followed by debt</a>, I decided to do the same.The apprenticeship takes several years and involves <a target="_blank" class="" href="https://www.businessinsider.com/college-enrollment-declining-student-debt-job-market-politics-2023-3">schooling while working</a>. My hourly rate has increased based on my experience and hours worked. In the last year, I made $53 an hour and worked five days a week. I also attended night school in the evening twice a week for three hours, and every other Saturday while studying for exams.I've been on maternity leave for the last month, but I passed my state exam, so when I return I'll make $63 an hour.<h2 id="2b0a49c3-7cb5-450b-9c79-49affc70bb31">It's been challenging</h2>I've had to juggle having a family, studying, and working for the last five years — and it's also a pretty physically demanding job.Commercial work requires pulling wire for pretty big gear and panels for metro stations. It's a big wire to pull for long destinations. We also land the wire into panels and run a lot of RMC/PVC conduits for station communication, power, and lighting systems, including underground work.The work involves a lot of pushing, carrying, crawling, and ladder work. We also have to do calculations sometimes. Being familiar with the Pythagorean theorem and <a target="_blank" class="" href="https://study.com/academy/lesson/sohcahtoa-definition-example-problems-quiz.html">SOHCAHTOA</a> will make installations easier. Algebra II is also needed for wire pulling and other electrical calculations.The job also involves a lot of specific language regarding materials, tasks, tools, safety, and work planning. There's a lot to keep track of and changes within each work project, such as materials and installations.<h2 id="779f06f5-c8a4-4689-97b5-dbc8aab367e2">I've yet to work directly with another woman</h2>In over five years of working in this field, there have been other women employed on projects, but they are very few, and I've personally never worked with one.The guys are great, but it's an adjustment to work with all men. They can come off as rougher even if they're not trying to be. I've had to learn to distinguish different tones and it's given me thicker skin and helped me work on my emotional intelligence.We need more female representation in this field though.Right now, I'm pregnant, and in California, <a target="_blank" class="" href="https://www.businessinsider.com/maternity-leave-around-the-world-2018-5">you can go on leave starting at 36 weeks</a>. But considering the kind of work we do, I wouldn't encourage someone who's seven months pregnant to be on a ladder.<h2 id="e3265d45-cafd-4418-a9e6-e971d0050134">The money and lifestyle have helped me live comfortably and start a family early</h2>I usually start work at 5 a.m., have two breaks, and finish at 1:30 p.m. in time to pick up my son at 2:30 p.m. Then I take him to practice, cook dinner, and spend the evening with him before I go to bed around 10 p.m.I also spend weekends with my family which is important to us.If I had taken the <a target="_blank" class="" href="https://www.businessinsider.com/culinary-mechanics-construction-trade-program-increase-college-enrollment-decreases-study-2023-4">college route</a>, I would have come out with at least $30,000 in debt. I also would have had to do internships and get low pay for experience. A lot of my <a target="_blank" class="" href="https://www.businessinsider.com/gen-zers-talking-about-money-troubles-tiktok-finance-high-cost-2024-2">friends my age are struggling with expenses.</a>I'm grateful for the apprenticeship because I've been able to keep up with our expenses and was able to buy a house at 25, which I cosigned with my mother-in-law.The other nice part about the program is there are a lot of companies within it. If I were to get laid off, I could go to the port of the apprenticeship and get dispatched to another company.I also find parts of the job satisfying. I like being able to go through the process of building something — not only seeing it happen but being hands-on with it is very satisfying. It's something that I enjoy a lot, and it's part of what has kept me around.

I'm 26 and working in construction. The job is demanding, but I make $53 an hour in a stable career without student loans

Prime Minister Narendra <keyword id="19899684" type="General" weightage="20" keywordseo="Modi" source="keywords">Modi</keyword> on Friday said the government is making necessary <keyword id="20861068" type="General" weightage="20" keywordseo="policy-changes" source="keywords">policy changes</keyword>, like removal of <keyword id="20279287" type="General" weightage="20" keywordseo="Angel-Tax" source="keywords">Angel Tax</keyword>, to promote the <keyword id="19945816" type="General" weightage="100" keywordseo="fintech" source="keywords">fintech</keyword> sector, even as he asked the <keyword id="19962476" type="General" weightage="20" keywordseo="regulators" source="keywords">regulators</keyword> to take additional measures to check cyber frauds which can have a crippling impact on startups. Lauding the fintechs for democratising <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, Modi said the sector, which has attracted USD 31-billion investment in the last 10 years, has played a key role in denting the parallel economy. The Prime Minister was addressing the Global Fintech Fest (GFF) 2024, jointly organised by the Payments Council of India, the National Payments Corporation of India and the Fintech Convergence Council. He said the domestic economy and the capital market are in a celebratory mood at a time when the nation is also going through a festive period. Modi underlined that the government is making all necessary changes on the policy level to assist the fintech sector and gave examples of doing away with Angel Tax, allocating Rs 1 lakh crore to encourage research and innovation in the country and implementing the Digital Personal Data Protection Act. Broadly, fintech refers to entities utilising technologies for providing financial services. Expressing the need to put an end to <keyword id="19901142" type="General" weightage="20" keywordseo="cyber-fraud" source="keywords">cyber fraud</keyword>, he urged the regulators to take major initiatives to boost digital literacy. It is equally important to ensure cyber fraud does not come in the way of the growth of fintech and startups in the country, Modi said. In his speech, the Prime Minister also cautioned about the dangers of a parallel economy for the world. Fintech, he said, has played an impactful role in denting such a system and credited the emergence of transparency. He said that digital technology has introduced transparency in India and gave the example of the implementation of Direct Benefit Transfer used in hundreds of government schemes that has prevented leakages in the system. "Today, people can see the benefits of aligning with the formal banking system," he said. Modi further said the trinity of Jan Dhan, Aadhaar and Mobile have broken down the mentality of 'Cash is King' and made way for approximately half of the <keyword id="20004116" type="General" weightage="20" keywordseo="digital-transactions" source="keywords">digital transactions</keyword> in the world taking place in India. "India's <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> has become a major example of fintech in the world," he said, adding that it has enabled 24X7 banking services in every village and city in all weather conditions. Underlining the role of fintech in democratising financial services, the Prime Minister gave examples of readily available loans, credit cards, investments and insurance. He said that fintech has made access to credit easy and inclusive, and gave the example of PM SVANidhi scheme that has enabled street vendors to avail collateral-free loans and further expand their business with the help of digital transactions. "Sustainable <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> is India's priority today," he said and emphasised that the government is creating robust, transparent and efficient systems to strengthen financial markets with advanced technologies and regulatory frameworks. About 800 speakers, including policymakers, regulators, senior bankers, industry captains, and academicians, from India and other countries are participating in the fest.

Removed Angel Tax, taking policy measures to promote fintech sector: PM Modi

Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="Narendra-Modi" source="Orion">Narendra Modi</keyword>, on Tuesday, disclosed his total movable assets amounting to ₹3.02 crore as he submitted his nomination papers from the <keyword id="2169874" type="General" weightage="20" keywordseo="Varanasi-Lok-Sabha-constituency" source="Orion">Varanasi Lok Sabha constituency</keyword> for the third consecutive time. In his poll papers, <keyword id="2238662" type="General" weightage="100" keywordseo="PM-Modi" source="Orion">PM Modi</keyword> revealed that he does not possess a house, car, or any land. His total assets include a fixed deposit of ₹2.86 crore with the State Bank of India (SBI), ₹80,304 in two bank accounts in Gandhinagar and Varanasi, and ₹52,920 cash in hand. Additionally, he holds gold investments worth ₹2.67 lakh in the form of four gold rings. The Prime Minister has invested ₹9.12 lakh in National Savings Certificates, marking an increase of nearly ₹2 lakh since 2019. He has no outstanding loans and lists his sources of income as 'salary from government' and 'interest from bank'. Contrary to the common wisdom of not putting all your eggs in one basket, PM Modi’s asset allocation data shows nearly 95% of his assets being concentrated in fixed deposits. However, considering his position as the Prime Minister of India, him steering clear of equity markets is understandable as it can lead to potential conflicts in decision-making. Among personal details, PM Modi stated that he holds an MA degree from Gujarat University and graduated from Delhi University in 1978. He passed the SSC exam from the Gujarat board in 1967. He declared Jashodaben as his wife in the nomination papers. However, her profession, occupation, and source of income were listed as 'not known'. The Prime Minister also affirmed that there are no pending criminal cases against him and he does not owe any government dues. Amidst much ceremony, PM Modi formally filed his nomination, seeking a third straight win from the Varanasi constituency. He will be contesting against Congress' UP unit president Ajay Rai. Before filing his nomination, PM Modi sought blessings at Kashi, took a holy dip in Ganga, performed rituals and Aarti at Dashashwamedh Ghat, and boarded MV Swami Vivekanand Ro-Ro vessel to reach Namo Ghat and the Kaal Bhairav temple. These rituals hold significance in Hindu mythology, believed to be essential before commencing any auspicious work. (With inputs from The Times of India)

95% of PM Modi’s assets are in fixed deposit! From investments to education, here are key takeaways from his nomination filing

<ul class="summary-list"><li>A woman in Brazil was arrested after seemingly trying to secure a bank loan using her dead uncle's signature.</li><li>The woman appeared to bring her uncle's body to the bank in a wheelchair and tried to use it to sign papers.</li></ul>A woman in Brazil was arrested on Tuesday on suspicion of theft by fraud and violating a corpse after she brought her uncle to a bank to sign a loan agreement, local media outlets reported.She had raised suspicion after she entered a small branch of Itaú Bank in a Rio suburb with a man in a wheelchair, who she called her uncle, local news organization <a target="_blank" href="https://odia.ig.com.br/rio-de-janeiro/2024/04/6829246-mulher-leva-cadaver-de-idoso-para-resgatar-emprestimo-no-banco-em-bangu.html">O Dia</a> reported, per a Business Insider translation.The woman, named by local media as Erika de Souza Vieira Nunes, reportedly told the clerk they were there to sign off on a 17,000 reais ($3,250) loan.In security camera footage shared by O Dia, the woman can be seen picking up the man's hand and repositioning his head to try to get him to sign the document in front of him."Uncle, are you listening? You need to sign. If you don't sign, there's no way, because I can't sign for you," Nunes can be heard saying in the video."He doesn't say anything, that's just how he is," she tells the clerk when he doesn't reply. "If you're not okay, I'm going to take you to the hospital."But the man's unresponsive nature and lolling head caused concern among bank employees who called the local ambulance services.On arriving, the doctors confirmed that the 68-year-old man had been dead for several hours, O Dia reported.His body was taken to a morgue, and Nunes was arrested on suspicion of attempted theft by fraud and violating a corpse.The woman's lawyers argue that the man, Paulo Roberto Braga, died at the bank in his wheelchair and said they had witnesses who would testify at the appropriate time, Brazil's national newspaper <a target="_blank" href="https://www.correiobraziliense.com.br/brasil/2024/04/6840270-cadaver-em-banco-novos-detalhes-de-um-crime-macabro.html">Correio Braziliense </a>reported.A preliminary forensic analysis concluded that Braga had died between 11:30 a.m. and 2:30 p.m. on Tuesday from breathing difficulties and heart failure.Nunes had arrived at the bank at 1:02 p.m, the report noted, according to Correio Braziliense.An expert who signed the report said that there was not enough medical or technical evidence at this point to confirm whether Braga died on his way into or inside the bank or had already been dead.However, the autopsy also indicated that he had likely died while lying down due to the position of blood clots in his neck.The police were not ruling out the possibility that more people were involved.<h2>Brazil's economic stagnation</h2><div type="image" title="The statue of Christ the Redeemer overlooking Rio de Janeiro, Brazil." height="1333" width="2000" msid="109405646" hostid="261" sizebytes="316524"></div>Brazil's economy has stagnated in recent months, with growth flatlining in the final quarter of 2023 amid sky-high interest rates. The country, the largest economy in South America, currently has a rate of close to 11%."The stagnation in Brazil's GDP in the fourth quarter and the decline in household consumption confirmed that the economy lost momentum sharply," Capital Economics' chief emerging markets economist William Jackson said in a note in March, <a target="_blank" href="https://www.reuters.com/world/americas/brazils-economy-grows-29-2023-2024-03-01/">per Reuters.</a>

A woman in Brazil was arrested after she seemingly attempted to get a dead body in a wheelchair to sign for a bank loan

<ul class="summary-list"><li>The Education Department agreed to add an additional negotiation session for student-debt relief.</li><li>The announcement follows mounting pressure to expand the discussion on borrowers with financial hardship.</li></ul>Following mounting pressure from Democratic lawmakers and advocates, the Education Department said it would allow another opportunity to expand its second student-debt relief plan.On Wednesday, the Education Department announced it will hold a fourth negotiation session on February 22 and 23 to discuss including borrowers with financial hardship in its second attempt at student-debt cancellation.According to a source familiar with the department's plans, the discussion at this fourth session will aim to identify borrowers experiencing hardship beyond the prior sessions' categories and define the hardship's scope for delivering relief.The source also said that the department is mindful of staying within the limits the Supreme Court set forth when it <a target="_blank" href="https://www.businessinsider.com/student-loan-forgiveness-blocked-supreme-court-strikes-down-debt-cancellation-2023-5">struck down President Joe Biden's first attempt at broad relief in June</a> as it determines which borrowers should be eligible for relief.Since June 2023, the department has been <a target="_blank" href="https://www.businessinsider.com/how-long-will-take-cancel-student-debt-higher-education-act-2023-7">working on a new route for relief</a> under the Higher Education Act of 1965. Under that law, the department must participate in negotiations with stakeholders to help craft the new rule — and in December, it <a target="_blank" href="https://www.businessinsider.com/student-loan-forgiveness-who-will-qualify-second-attempt-biden-education-2023-12">concluded the third</a>, and what it planned to be the final, round of negotiations.However, <a target="_blank" href="https://www.businessinsider.com/student-loan-forgiveness-experts-want-another-negotiation-session-borrowers-hardship-2024-1">some of the negotiators</a>, along with advocates and Democratic lawmakers, expressed disappointment with the department's proposal for relief at the end of the sessions. While it put forth <a target="_blank" href="https://www.businessinsider.com/student-loan-forgiveness-who-will-qualify-second-attempt-biden-education-2023-12">five groups of borrowers</a> to include in relief, a category for borrowers experiencing hardship was omitted — prompting a push for an additional negotiation session to discuss those borrowers.The Education Department agreed to that request. Undersecretary of Education James Kvaal said in a statement that "the Biden-Harris Administration will never stop working to deliver student debt relief for borrowers.""We look forward to discussing another avenue for borrower relief related to hardship at our next negotiation session," Kvaal said.Public comment will be available on February 22 at 3 p.m. Eastern Time.Even with the additional session, it's unclear if the department will include borrowers with financial hardship in its final proposal for debt cancellation. However, it's a sign the department is open to considering expanding the scope of the relief as it moves forward in the negotiated rulemaking process.Following this final round of negotiations, the department will finalize its proposal and post it to the Federal Register to allow a 30-day public comment period. Under the HEA's timeline, the plan would not go into effect until 2025 — but the education secretary can opt for early implementation to get relief to borrowers sooner.

The Education Department agrees to consider more student-loan borrowers for its second attempt at debt relief

New Delhi, The <keyword id="40807" type="General" weightage="20" keywordseo="election-commission" source="Orion">Election Commission</keyword> (EC) issued a show-cause notice to Congress leader Rahul Gandhi on Thursday for his "panauti", "pickpocket" and "loan waiver for the super rich" jibes at Prime Minister Narendra Modi, and asked him to respond by Saturday. The ruling Bharatiya Janata Party (BJP) had approached the poll panel against the <keyword id="6316776" type="General" weightage="20" keywordseo="former-congress-president" source="Orion">former Congress president</keyword>, saying it was "unbecoming" of a "very senior leader" to use such language. The EC reminded Gandhi that the Model Code of Conduct prohibits leaders from making unverified allegations against political rivals. The Congress leader used those words targeting the prime minister at recent rallies in poll-bound Rajasthan. In its representation to the EC, the BJP had asserted that the allegation of grant of waivers to industrialists of Rs 14,00,000 crore over the last nine years was "not borne out on facts". The EC notice said the expression "panauti" ex-facie falls in the equity of the prohibition of section 123 of the Representation of the People Act, dealing with corrupt practices. Clause 2, sub section (ii) of section 123 states that any person who induces or attempts to induce a candidate or an elector to believe that he, or any person in whom he is interested, will become or will be rendered an object of divine displeasure or spiritual censure, shall be deemed to interfere with the free exercise of the electoral right of such a candidate or elector, the notice reminded Gandhi. The Congress leader had used the "panauti" barb against Modi in a poll speech in Rajasthan as the prime minister had attended the World Cup cricket final that India lost to Australia after 10 consecutive wins in the tournament. A Hindi slang, "panauti" loosely refers to someone who brings bad luck. The former Congress president took the "pickpocket" dig at Modi during a poll speech on Wednesday, alleging that the prime minister diverts people's attention while industrialist Gautam Adani picks their pockets. This is how pickpockets operate, he had alleged. The notice also recalled a general advisory issued by the EC, in which the poll panel had expressed concerns at the "plummeting level of political discourse" during electioneering. The commission also told Gandhi about a Supreme Court observation that if freedom of speech and expression is protected by Article 19(1)(a) of the Constitution, the right to reputation is also considered to be an inextricable part of the right to life protected by Article 21 and "balancing these two rights is a constitutional necessity". "Accordingly, you are requested to provide your explanation on the allegation made and to show causes as to why action as deemed fit for alleged violation of Model Code of Conduct and relevant penal provisions is not initiated by the commission. "Your reply, if any, be reached by 6.00 pm of November 25. If no reply is received by then, action deemed fit will be taken by the commission," the notice said.

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